Valley National Bancorp Stock Forecast
Valley National Bancorp stock upgraded from Sell Candidate to Hold/Accumulate after Wednesday trading session.
(Updated on May 01, 2024)
The Valley National Bancorp stock price gained 4.14% on the last trading day (Wednesday, 1st May 2024), rising from $7.01 to $7.30. During the last trading day the stock fluctuated 5.54% from a day low at $7.04 to a day high of $7.43. The price has been going up and down for this period, and there has been a 1.39% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 8 million shares were bought and sold for approximately $59.54 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -13.63% during the next 3 months and, with a 90% probability hold a price between $6.04 and $6.87 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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VLY Signals & Forecast
There are mixed signals in the stock today. The Valley National Bancorp stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $7.47 and $7.59. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 4.14%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Valley National Bancorp stock
Valley National Bancorp finds support from accumulated volume at $7.20 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.390 between high and low, or 5.54%. For the last week, the stock has had daily average volatility of 5.51%.
Our recommended stop-loss: $6.97 (-4.47%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (VLY) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Valley National Bancorp to open at $7.26, and during the day (based on 14 day Average True Range), to move between $6.95 and $7.65, which gives a possible trading interval of +/-$0.346 (+/-4.74%) up or down from last closing price. If Valley National Bancorp takes out the full calculated possible swing range there will be an estimated 9.48% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $7.20 (1.37%) than the resistance at $7.77 (6.44%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Valley National Bancorp stock A Buy?
Valley National Bancorp holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.270 Hold/Accumulate Upgraded
Predicted Opening Price for Valley National Bancorp of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $7.26 ( 0.594%) | $7.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLY
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.65 | 4.75 % | |
| R2 | 7.50 | 2.71 % | ||
| R1 | 7.41 | 1.45 % | ||
| Current price: | 7.30 | |||
| Support | S1 | 7.11 | -2.63 % | |
| S2 | 7.02 | -3.90 % | ||
| S3 | 6.87 | -5.94 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 8.16 | 11.78 % | |
| R2 | 7.98 | 9.32 % | ||
| R1 | 7.77 | 6.44 % | ||
| Current price | 7.30 | |||
| Support | S1 | 7.20 | -1.37% | |
| S2 | 7.12 | -2.47% | ||
| S3 | 7.01 | -3.97% |
VLY Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 21, 2024 | Mar 13, 2024 | Apr 02, 2024 | $0.110 | 1.45% |
| 2 | Dec 06, 2023 | Dec 13, 2023 | Jan 03, 2024 | $0.110 | 1.06% |
| 3 | Aug 14, 2023 | Sep 13, 2023 | Oct 02, 2023 | $0.110 | 1.33% |
| 4 | Aug 06, 2023 | Jun 14, 2023 | Jul 03, 2023 | $0.110 | 1.38% |
| 5 | Mar 01, 2023 | Mar 14, 2023 | Apr 03, 2023 | $0.110 | 1.21% |
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